Urstadt Biddle eyes $109M

Urstadt Biddle Properties Inc. expects to gross $109 million in a new sale of preferred shares, on the heels of a $48 million offering of common stock earlier in October.

Greeenwich-based Urstadt Biddle said it will use the money for general corporate purposes, possibly to include purchasing real estate.

The company owns more than 50 retail centers and office buildings, many of them in Fairfield County, totaling about 4.9 million square feet of space.